Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives Average Rating of "Moderate Buy" from Analysts

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twelve research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $47.27.

A number of brokerages have recently weighed in on RCKT. Chardan Capital reiterated a "buy" rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Leerink Partners lowered their price target on Rocket Pharmaceuticals from $46.00 to $44.00 and set an "outperform" rating for the company in a report on Tuesday, November 19th. Jefferies Financial Group began coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They issued a "buy" rating and a $29.00 price target for the company. Wedbush initiated coverage on Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an "outperform" rating and a $32.00 price target for the company. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ RCKT traded down $0.05 during trading on Monday, reaching $10.87. The stock had a trading volume of 848,844 shares, compared to its average volume of 1,450,817. Rocket Pharmaceuticals has a one year low of $9.33 and a one year high of $31.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The stock has a market cap of $990.91 million, a PE ratio of -3.95 and a beta of 0.98. The firm's 50 day moving average price is $11.17 and its two-hundred day moving average price is $15.15.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its position in Rocket Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company's stock worth $61,000 after acquiring an additional 582 shares during the period. Rhumbline Advisers boosted its position in Rocket Pharmaceuticals by 1.3% during the 4th quarter. Rhumbline Advisers now owns 99,339 shares of the biotechnology company's stock worth $1,249,000 after acquiring an additional 1,242 shares during the period. Envestnet Asset Management Inc. boosted its position in Rocket Pharmaceuticals by 4.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company's stock worth $408,000 after acquiring an additional 1,280 shares during the period. Arizona State Retirement System boosted its position in Rocket Pharmaceuticals by 8.4% during the 4th quarter. Arizona State Retirement System now owns 19,826 shares of the biotechnology company's stock worth $249,000 after acquiring an additional 1,528 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Rocket Pharmaceuticals by 1.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,633 shares of the biotechnology company's stock valued at $2,210,000 after buying an additional 1,561 shares during the period. Institutional investors and hedge funds own 98.39% of the company's stock.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.